The opioid crisis remains a persistent nightmare, but the battle lines are shifting in the fight against prescription drug diversion. 2023 witnessed a seismic shakeup in the drug diversion software arena, with two major alliances dramatically reshaping the landscape. Let’s unpack these moves and ponder what the future holds in 2024.
Thoma Bravo, a software investment powerhouse, kicked off the year by injecting growth capital into Bluesight, the Medication Intelligence Company. This wasn’t just a financial boost; it was strategically sound. Bluesight, already a force in the field, then leveraged this newfound muscle to acquire Medacist, the pioneering company that launched the very first drug diversion surveillance product back in 1998. This bold move not only consolidated the industry, but also promised powerful synergies from merging Bluesight’s cutting-edge technology with Medacist’s rich experience and established customer base.
Just a few months later, another announcement was made. Wolters Kluwer, a titan in healthcare information solutions, acquired Flowlytics by Invistics. This wasn’t just about adding another feather to Wolters Kluwer’s impressive cap; it was about integrating Flowlytics’ robust drug diversion capabilities into their powerhouse Sentri7 Clinical Surveillance Suite. This powerhouse platform not only tackles medication management and infection prevention, but also boasts early sepsis detection and, now, a robust drug diversion arm called Sentri7 Drug Diversion (formerly Flowlytics). Wolters Kluwer’s commitment to seamless integration and future enhancements promises exciting possibilities for clients and the fight against diversion.
So, will 2024 be another year of merger mania? The crystal ball remains foggy, but the whispers circulating through industry corridors suggest the answer is a resounding yes. With consolidation trends heating up, other industry players could be eyeing partnerships or acquisitions of their own. This evolving landscape holds immense potential for innovation and improved patient safety, as diverse strengths and expertise get intertwined.
The year that unfolded before us was a clear testament to the growing importance of drug diversion software in tackling the opioid crisis. As these alliances bear fruit and new collaborations emerge, we can only hope that 2024 will mark another pivotal year in the ongoing battle for a safer, healthier future.
Could we see more alliances in 2024? Only time will tell and you can be sure no one will let on to any discussions that may be in the works.
